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Credit Booms—Is China Different?

Author/Editor: Sally Chen, Joong Shik Kang.

Release Date:January, 2018

Strong Chinese output growth after the Global Financial Crisis was supported by booming credit. This credit boom carries risks. International experience suggests that China’s credit growth is on a more...



Price: $18.00
Resolving China's Corporate Debt Problem

Author/Editor: Wojciech Maliszewski, Serkan Arslanalp, John Caparusso, José Garrido, Si Guo, Joong Shik Kang, W Raphael Lam, Daniel Law, Wei Liao, Nadia Rendak, Philippe Wingender, Jiangyan Yu, Longmei Zhang.

Release Date:October, 2016

Corporate credit growth in China has been excessive in recent years. This credit boom is related to the large increase in investment after the Global Financial Crisis. Investment efficiency has more...



Price: $18.00
Chinese Imports : What's Behind the Slowdown?

Author/Editor: Joong Shik Kang, Wei Liao.

Release Date:May, 2016

Real imports in China have decelerated significantly over the last two years to below 4 percent (yoy) from double-digit growth in previous years. Weaker investment, partly due to progress in more...



Price: $18.00
Private Sector Activity in Hong Kong SAR and the Fed : Transmission Effects through the Currency Board

Author/Editor: Joong Shik Kang.

Release Date:February, 2016

As the U.S. Fed begins to increase the Federal Funds rate, interest rates in Hong Kong
 SAR will rise in tandem under the Currency Board system. While domestic economic
 activity in more...



Price: $18.00
Production Offshoring and Investment by Japanese Firms

Author/Editor: Joong Kang, Shi Piao.

Release Date:July, 2015

We trace Japanese corporate investment across different types of firms over the past decades and estimate the main determinants of investment. We find that there are differences in investment more...



Price: $18.00
Balance Sheet Repair and Corporate Investment in Japan

Author/Editor: Joong Kang.

Release Date:August, 2014

We trace Japanese firms’ behavior over the last decades using aggregate corporate balance sheet data. Financial health of Japanese corporate sector has improved and firms paid back significant more...



Price: $18.00
Progress Towards External Adjustment in the Euro Area Periphery and the Baltics

Author/Editor: Joong S Kang, Jay C Shambaugh.

Release Date:July, 2014

The euro area periphery countries and the Baltic countries, which had large current account deficits in the run-up to the crisis, needed adjustment of relative prices to achieve both internal and more...



Price: $18.00
Adjustment in Euro Area Deficit Countries : Progress, Challenges, and Policies

Author/Editor: Thierry Tressel, Shengzu Wang, Joong S Kang, Jay C Shambaugh, Jörg Decressin, Petya Koeva Brooks.

Release Date:July, 2014

Imbalances within the euro area have been a defining feature of the crisis. This paper provides a critical analysis of the ongoing rebalancing of euro area “deficit economies” (Greece, Ireland, more...



Price: $10.00
The Evolution of Current Account Deficits in the Euro Area Periphery and the Baltics: Many Paths to the Same Endpoint

Author/Editor: Joong Shik Kang, Jay C Shambaugh.

Release Date:July, 2013

Explanations of the large current account deficits for the euro area periphery and the Baltics in the run up to the crisis revolve around two main factors: deteriorating export performance or demand more...



Price: $18.00
Aid, Exports, and Growth: A Time-Series Perspective on the Dutch Disease Hypothesis

Author/Editor: Joong Shik Kang, Alessandro Prati, Alessandro Rebucci.

Release Date:March, 2013

We use a heterogeneous panel VAR model identified through factor analysis to study the dynamic response of exports, imports, and per capita GDP growth to a “global” aid shock. We find that a more...



Price: $18.00
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